Hope for First Time Buyers as Nationwide and HSBC Push Through Mortgage Rate Cuts
Nationwide and HSBC cut fixed mortgage rates by up to 0.2 percentage points, offering new lows around 3.5% to attract borrowers amid weaker property transactions.
- On Thursday Nationwide Building Society and HSBC cut mortgage rates, with Nationwide launching a market-leading 3.50% two-year deal for home movers with a 40% deposit.
- Pricing followed lower gilt yields and swap-rate moves, and lenders cut rates to attract business after a base-rate cut last month.
- Nationwide is cutting up to 0.2 percentage points for new and existing customers, first-time buyers’ fixed rates fell by up to 0.17% for up to 95% loan to value, and around 1.8 million borrowers face expiring fixed deals in 2026.
- Analysts call it a price war and said it's `good news for borrowers`, as two more lenders cut rates and HSBC will reveal further cuts tomorrow.
- Some experts are divided on how low rates will go, with prices at their lowest since 2022 and 7,000 plus rates available shaping a positive 2026.
12 Articles
12 Articles
Nationwide Building Society mortgage overhaul as interest rates cut for thousands of buyers
Nationwide Building Society is slashing its fixed-rate mortgage offerings from tomorrow (January 15), bringing welcome news for those looking to get onto the property ladder or relocate to a new home.The lender's reductions of up to 0.20 percentage points will see its cheapest deal drop to 3.50 per cent, targeting both first-time purchasers and existing homeowners seeking to move.Carlo Pileggi, Nationwide's head of Mortgage Products, said: "Our …
Nationwide and HSBC cut mortgage rates as cheapest deal breaks 3.5% barrier
Nationwide and HSBC cut mortgage rates as cheapest deal breaks 3.5% barrier - Breaking news for estate agents and the residential property industry. Independent, unbiased, and factual reporting. A forum for discussion and debate of topics of the day. Subscribe for our free daily newsletter.
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